Hindalco Industries Ltd on Monday said it has entered into a pact with Israel-based Phinergy and IOP for developing aluminium-air batteries for electric vehicles and energy storage.
IOC Phinergy Private Limited (IOP) is a joint venture between Phinergy and Indian Oil Corporation
Hindalco Industries Ltd on Monday said it has entered into a pact with Israel-based Phinergy and IOP for developing aluminium-air batteries for electric vehicles and energy storage.
IOC Phinergy Private Limited (IOP) is a joint venture between Phinergy and Indian Oil Corporation.
An aluminium-air battery, which has light weight and high energy density, significantly increases the driving range of electric vehicles. It will also enable quick refuelling as well as eliminate the need for expensive nationwide charging networks.
Aluminium-air batteries are expected to make EV adoption more convenient, and accelerate the transition to zero emission mobility.
In a statement, Hindalco said it has signed a Memorandum of Understanding (MoU) with Phinergy and IOP.
Phinergy and IOP will partner exclusively with Hindalco in India on R&D and pilot production of aluminium plates for aluminium-air batteries, and recycling of aluminium, after usage in these batteries, the statement said.
Phinergy is into metal-air battery technology.
"Climate action is integral to our business and our partnership with Phinergy and IOP is a significant step towards decarbonising mobility... India has an abundance of aluminium resources and this technology can help enhance the nation's energy and resource security," Hindalco Industries MD Satish Pai said.
"Aluminium is abundantly available in India and its usage as an energy storage medium through this novel technology has the potential to contribute immensely to Aatmanirbhar Bharat... The collaboration will propel India's aspirational journey towards sustainable, affordable and safe energy options for stationary and e-Mobility purposes," IOP Chairman Sanjeev Gupta said.